New Times Energy Corporation Limited provided earnings guidance for the six months ended June 30, 2020. Based on the Board’s preliminary review of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020, and currently available information, the Group is expected to record a consolidated net loss in the range of approximately HKD 46,791,000 to approximately HKD 57,189,000 for the six months ended 30 June 2020, as compared to a consolidated net loss of approximately HKD 10,303,000 for the same period in 2019. The estimated increase in consolidated net loss of the Group is mainly due to: the recognition of a fair value loss from the Group's investment holding of listed equity securities, which was previously a recognised fair value gain for the same period in 2019; the recognition of a lower hyperinflation adjustment gain arising from the Group ' s Argentina operations as compared to the same period in 2019; offset by a decrease in general and administrative expenses as compared to the same period in 2019.